EnergyByte

March 2026 had its lowest electricity spot prices for 5 or so years. Generally, benign outcome across the market. Domestic gas prices remained subdued, while battery storage continued to grow, although not necessarily margins. April is predicted to be warmer than average, is there more to follow?

Victorian Easter spot prices were the lowest in 23 years, with Good Friday and Easter Saturday averaging below zero. South Australia has now averaged around $30/MWh for 5 of the last 7 years. Base swap forward prices for Q2-26 have returned to mid-February levels and VIC is at a record low.

In the second quarter of 2022, Australia experienced exceptional gas and electricity prices triggered by the Russian invasion of Ukraine causing Europe to seek alternative energy sources. Is this year on a similar trajectory because of the ongoing Middle East conflict?

The Middle East conflict is having a global impact on energy prices as oil shipping and production is impacted along with Qatar LNG exports also being impacted. We track the impact on Australian electricity prices.

NSW customers can now lock in power and LGC costs below any 2026 price level at record lows for 2027 and 2028. Forward prices in NSW and QLD have materially softened, while LGC prices have collapsed. Together, businesses have an unprecedented chance to secure energy costs at record-low levels.